12.5% premium cidco scheme

This query is : Resolved 

Querist : Anonymous (Querist)
03 May 2010

Is transfer of plot of land alloted to one under 12.5% premium cidco scheme exempt from capital gains tax

03 May 2010

Plz explain more on the cidco scheme what it is?

Allthough I havent read about any such exemption under the Income Tax Act where capital gain from sale of a property is exempt merely because it is purchased in some scheme.

Vineet (Expert)
04 May 2010

Please provide complete details of the scheme. No exemption from capital gains tax is available unless the same is specifically provided under the Act or by some notification.

soumitra basu (Expert)
05 May 2010

The question is insufficient to answer.

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